Lend at Hodl Hodl: True P2P Bitcoin lending is here

[exstasie]

If you are USA based and send an amount of btc out of your wallet to an escrow it is a reportable tax event for capital gains. You no longer own that coin as it left your wallet and went into an escrows wallet.

Be extremely careful of tax consequences if you are Usa 🇺🇸 based.

Note I am not a legal expert on tax law. 

But be careful you don’t create what you are looking to avoid.

ie  a capital gain. When you move coin from your btc wallet to an escrow wallet.

Very interesting, thanks for pointing that out. I've often heard the opposite and have been reading into IRS advice trying to get a clear answer. I know for sure that property transferred to satisfy a debt (for example, when Defi collateral gets transferred for liquidation) is a taxable exchange. I haven't been able to find anything about whether using property as collateral in the first place is taxable. I would also be curious whether the use of a decentralized smart contract makes any difference, in the sense that collateral could theoretically be put down and retrieved at will, without ever involving trusted third party custody.

[wxa7115]

Many Bitcoin -hodler- has avoided or left un-used, services like this on accounts of Privacy,security,anonymous and many other, the developers of this has taking that extra yard with those features it has, this is unadulterated decentralization.
Although it would have been exciting if the non-fait property be left to the decision of user, like it should be you can choose fiat or no non-fiat, except that it's an exciting service.

While they claim that not adding fiat was because they were interested in the security of their customers something tells me they were worried about their project as well, because if people began to borrow and lend fiat on their platform most likely that will put them on the field of a bank and governments will make them to force their customers to go through KYC.

And as we know that will defeat the whole purpose of trying to make this P2P, it is going to be interesting to see if the community adopts this as one characteristic that I see a lot in this market is that many people hate to take or give loans as they consider it one of the tools of the fiat system to have people enslaved, but we will have to wait and see to know the answer to that.

[fillippone]

Adam Back endorses this project, with a very clear statement:

this is what DeFi means. notice sane interest rates, no artificial airdrop ponzinomics, just
@hodlhodl
 p2p lending delivering value. nice!

Liquid Federation member
@hodlhodl
 launched a #Bitcoin lending platform today, enabling #BTC users to find offers to either lend or borrow stablecoins. Loans are available in multiple stablecoin formats, with Liquid Tether $USDt as the default option.
https://blog.liquid.net/hodl-hodl-lend-launches-with-liquid-tether-support/

https://twitter.com/Liquid_BTC/status/1319310534207066112?s=20

This project is very different from DeFI scams, and hopefully, it will open so a more "meaningful" wave of DeFi projects, bootstrapping a new ecosystem.
DeFi is a too important phenomenon to be left as a scammer playground!

[Coin-1]

This project is very different from DeFI scams, and hopefully, it will open so a more "meaningful" wave of DeFi projects, bootstrapping a new ecosystem.
DeFi is a too important phenomenon to be left as a scammer playground!

This is true. Such kind of DeFi projects are in great demand today. I am excited to hear that Adam Back endorses the HoldHold exchange.

As far as I know, all P2P trades are settled on the Bitcoin blockchain using multi-signature (2-of-3) addresses. The team has now launched lending services and decided to provide the altcoin Tether which is pegged to the US dollar, so I'm curious how exactly the new escrow system will be handled.

Not using KYC means that the seller and the buyer (or the lender and the borrower) can be the same person. Perhaps some users will try to improve their stats by paying all the commissions. In any case, I think the HoldHold platform looks credible.

[Karartma1]

Another interesting development after https://sovryn.app. The time is ripe for valid Bitcoin alternatives to the utter DeFi crap that's been upon us since last year; I have to study the platform now because I need to know how it works before trying it.

[davis196]

I've heard about hodlhodl.com,but there aren't many reviews online about this website.
I don't want to use platforms,which don't have enough active users,hence there's not enough liquidity.
The fact that there's no KYC required doesn't mean anything to me.Sooner or later,hodlhodl.com will have to abide by the regulations and implement KYC verification,if they want to stay in business and avoid problems with the authorities.

[Karartma1]

I've heard about hodlhodl.com,but there aren't many reviews online about this website.
I don't want to use platforms,which don't have enough active users,hence there's not enough liquidity.
The fact that there's no KYC required doesn't mean anything to me.Sooner or later,hodlhodl.com will have to abide by the regulations and implement KYC verification,if they want to stay in business and avoid problems with the authorities.

That is your opinion and anyway as long as hodlhodl keeps operating that way is good for everyone. I am not worried because there will be a thousand hodlhodl in the near future: these are profitable businesses in the bitcoin industry hence the more will come the better.
If they will ever introduce KYC most of us will look elsewhere and as I said there will be plenty of alternatives.